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Earnings, Earnings, More Earnings! AAPL, CMG, ISRG, VMW, CTAS, FTNT, RVBD, CRUS, QCOM, OVTI

|Includes:Apple Inc. (AAPL), CMG, CRUS, CTAS, FTNT, ISRG, OVTI, QCOM, RVBD, VMW

Buyers came in to the market today after IBM's strong earnings last night.  IBM went up +5.67% today, almost $10!  After the market, there were lots of movers on earnings.  AAPL delivered a blowout quarter, reporting $7.79 per share vs. $5.82 average estimate!  AAPL were up +5% this evening.  We already locked in profits as high as +142% on our Aug 370 calls today:

  • July 19, 2011
  • 07:21 | HappyTrading AAPL ($378.35) Sold to Close 08C370 Aug 370 calls, at $19.20 +142%

CMG, which made a new all-time high today at $333.71, missed its earnings estimate; its shares dropped almost 4% after market.  ISRG got a nice +4% pop on its earnings beat.  VMW reported better-than-expected results and raised its guidance; its shares rose +6.21% this evening on top of its +5% gain during the regular session.  CTAS climbed more than +7% by beating market expectations.  FTNT beat its estimates by 0.01, but, its shares slumped more than 18% this evening.  RVBD shares got slammed after delivering a disappointing quarter and forecast; RVBD traded down almost $10, or 24%!

The Dow was up +202.26 points; SPX added +21.29 points; Nasdaq gained +61.41 points:

OIH (oil services) added +2.47%.  XME (metals and mining) gained +2.06%.  XLE (energy) was also strong, adding +1.82%.  GLD (gold) and SLV (silver) pulled back, down 1.22% and 3.7%, respectively.  MOO (agriculture) advanced +1.57%.

SPX

SPX added +21.29 points to close at 1326.73.  It closed just above its 10-day MA.  Its MACD was flat.

Nasdaq

Nasdaq gained +61.41 points to close at 2826.52, above 2800, and above its 10-day MA.  Its MACD was little changed.

As discussed in our Market Forecast this weekend, the market still looks range-bound.  Energy and mining stocks seem to be waking up, although financials still remain on the weak side.  Stocks are primarily moving to the tune of earnings reports.  As long as the debt ceiling is not raised, this market should stay cautious and range-bound.  With AAPL's blowout quarter, CRUS, QCOM, and OVTI are trading higher this evening.  QCOM is reporting tomorrow after market.  These names are worth a look tomorrow

Good night and HappyTrading! ™

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Stocks: AAPL, CMG, ISRG, VMW, CTAS, FTNT, RVBD, CRUS, QCOM, OVTI